Things to Consider When Your Client Seeks Lawsuit Funding-Part VII: Does The Lawsuit Financing Company Have the Necessary Experience?
Here is the last installment of our seven "Things to Consider When Your Client Seeks Lawsuit Funding". Experience is a vital part of the litigation and litigation funding process. There are many different legal finance companies to choose from. You must ask the right questions to assure that you are getting the lawsuit financial expert you deserve. So...the final question of our series is:
The lawsuit finance industry has experienced explosive growth over the past few years. There are now, literally, hundreds of companies that call themselves “lawsuit funding”, “litigation funding”, “legal finance”, “lawsuit finance” companies or some variation of those word combinations. Thus, you will encounter significant differences in legal funding and legal experience that the principal brings to the lawsuit finance marketplace.
It is strongly recommended that you ask questions of the lawsuit financial company you are about to engage. How long has it been in business? Does it specialize in legal funding? (Is this the only thing it does?) Is the company a broker or a principal? Is the company operated by financial people or by lawyers? (Is the “lawyer” is an experienced veteran and an owner and not just a figurehead?) What experience has the lawsuit funding company had in funding transactions, settling transactions, compromising transactions and/or representing plaintiffs in pending litigation? What strategies does the company representative recommend for your client when pursuing a litigation funding transaction?
An experienced legal finance company and company representative can be a substantial asset, not only to providing case funding for your client, but, to the appropriate case resolution, as well. Hopefully, this blog series has been of assistance to those of you who find yourselves being introduced to the legal funding process by your client and/or a company that your client has discovered through an advertisement or the Internet. The seven criteria are not exhaustive, but are certainly instructive in choosing an appropriate lawsuit finance company. Above all, satisfy yourself that the company has the credentialed experience to guide you and your client through difficult litigation, a sometimes confusing financial process, and, most importantly to the client, through difficult financial times. The right lawsuit financial services company can make a huge difference in the bottom line of your client’s case.
Lawsuit Financial Corporation is your legal funding industry expert. Call us, toll free, 24 hours a day, at 1-877-377-SUIT (7848) for a free analysis of your case funding situation. Or, contact us by visiting our website at www.lawsuitfinancial.com.